LG NOVA SETS FUTURE VISION WITH ANNOUNCEMENT OF “20 SELECTED” STARTUPS

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Connected health, the metaverse and energizing mobility stand out for exploring new activities; $2 million in financing LG to accelerate the company’s development

SANTA CLARA, Calif., June 20, 2022 /PRNewswire/ — LG Electronics’ North American Innovation Center (LG NOVA) has announced that the “Selected 20” startups are advancing to the next stage of its Mission for the future global challenge competition.

These top contenders have been rewarded $100,000 each, $2 million total for 20 proof of concept projects. As they progress, startups will work on a business model with their LG NOVA counterparts to create a business framework.

“Over the past several months, our work with the top 50 startups has helped us continue to refine our vision for the future as we examine new areas of growth for LG,” said Dr. Sokwo Rhee, Vice President LG Electronics Principal for Innovation, Director of LG NOVA. “We are inspired by everyone who has participated in groundbreaking and thoughtful technology innovations to date to drive and contribute to our collaborative community and the guiding principle of ‘outside-in’ innovation. With this announcement , we share the results of our ongoing work of engagement with the startup and entrepreneur community to create impactful technologies that will lead society into the future.”

Among the startups selected are strong companies across the Connected health, Metaverseand energetic Mobility sectors that create new solutions that can transform markets and industries.

Move to the next phase in the areas of Smart lifestyles and Innovate to impact are Digbi, a healthcare-related company exploring the field of gut microbiome and genetics; a·close, smarter home AI designed to support daily living activities for caregivers and families; and chefling, an intelligent cooking assistant that offers recipes to cook from the ingredients of your shopping tickets. These three companies represent different aspects of people’s changing priorities to make life easier and live better with personalized services that will help feed themselves and perform daily tasks more efficiently.

In the Connected health space, the epicenter of innovation is shifting towards patient-centered care and wellness, accelerated by the pace of adoption of new technologies in healthcare over the past two years. The selected startups in this area reflect this transition and the potential future services created as people change their perspective on care based on new technologies and desire greater control over their health and the health services they receive. . Startups singled out by LG NOVA in Connected health deliver innovative technology services through AI and Metaversecoupled with data and service platforms focused on patient care, whatever the context.

With a focus on developing an advanced technology platform to deliver services, MayaMD, Inc., name of life and medical mindset have been selected to move on to the next phase of the NOVA challenge. Leveraging AI to deliver more insights to patients and providers to improve healthcare services, MayaMD is a human AI-powered conversational digital health assistant. LifeNome is a precision and biological personalized enterprise health platform powered by genomics and AI. Mindset Medical is a camera sensor based technology platform that can take health and biological measurements through your personal device for medical diagnosis by remote doctors. Develop a platform for patient services, medZEROan employer-sponsored financial wellness platform, offers employees a smarter way to pay for healthcare via on-demand access to funds to pay for personal expenses over time, with no interest or fees.

XRHealth, TRIPP, Inc. and NeuroTrainer provide effective alternatives to health and wellness services for patients, through the capabilities of an XR/VR/AR environment. XRHealth is a virtual treatment room that provides patient care and rehabilitation through VR/AR paired with clinicians and real-time data analytics. TRIPP is an XR wellness platform pioneering innovative health and wellness technologies that deepen connection to self through fully immersive alternate realities. NeuroTrainer improves concentration and performance through virtual reality brain training.

In the Metaverse space, LG is pursuing a variety of applications with the aim of driving wider adoption of new, immersive and interactive technologies and creating greater business opportunities. The LG NOVA team’s choice of startups in this category includes iQ3Connect, Snickerdoodle Laboratoriesand YBVR. iQ3Connect provides immersive 3D workspace technology and a no-code platform to enable distributed teams to cost-effectively work, collaborate and train from anywhere, on any AR device, VR or 2D. Snickerdoodle Labs builds a privacy-agnostic, data-sharing layer where individuals own their data and the value it generates. YBVR delivers live fan events with the technology to quickly transform streaming live video content into a new level of fan engagement through immersive viewing experiences.

Finally, LG Energizing mobility The category focuses on the electric mobility sector and the electric vehicle charging infrastructure ecosystem, which are paramount to achieving a more sustainable future. The companies selected in this category offer a wide range of actionable solutions to increase the feasibility of adoption in the consumer and enterprise markets. SparkCharge offers electric vehicle owners an affordable and convenient way to charge their electric vehicles without a direct access charger at home or on the road. Drivez provides an EV charging and energy management software platform that enables hospitality industry players to offer a disruptive EV charging as a service business model.

I-EMS Group, Ltd. uses innovative blockchain-based AI and DERMS and transactional energy software platforms to enable power optimization in smart cities, smart homes and electric mobility. Kardome3D audio technology improves speech recognition accuracy in harsh sound environments, transforming the voice user interface from a cloud-dependent experience to a secure, real-time, customizable user experience in any environment. Faction has a unique approach to driverless technology and light electric vehicles that introduces a more efficient way to move goods and people.

Chosen from a pool of over 1,300 applicants, the 20 selected will continue the process of developing their ideas at the incubation and pilot level, while working closely with the team of innovation and entrepreneurship experts. of LG NOVA over the next two months, with the goal of being chosen as Mission for the future “Top 10” finalist challenge. To be named in August 2022the top 10 will have the opportunity to grow their business together with LG on an accelerated path to success, with full access to LG expertise, mentorship and NOVA Capital Alliance and LG investments.

Since its official launch in August 2021the Mission for the future invited innovators and entrepreneurs to submit their business ideas, technologies and concepts that aim to advance people, communities and the planet. The “First 50” startups selected under the challenge program gained access to basic business infrastructure support and networking after demonstrating outstanding proof of concept in emerging industries, as well as the potential for a successful partnership within the wider LG business.

Mission for the future is an annual challenge program that seeks great ideas, concepts and businesses that will help improve the quality of life in the future. The goal of the challenge is to bring innovation from the outside in to LG. In addition to selected business awards, finalists can qualify for resources and investments from an allocated budget $20 million for new business development and with the opportunity to work with the LG NOVA incubation team to scale their business.

About LG NOVA
LG NOVA, the North American Innovation Center for global innovation leader LG Electronics, is a team focused on bringing innovation from outside LG. LG NOVA is based in Santa Clara, California. The center’s mission is to build, nurture and develop innovations that impact the future. Learn more at www.lgnova.com.

About LG Electronics UNITED STATES
LG Electronics USA, Inc., based in Englewood Cliffs, NJ, is the North American subsidiary of LG Electronics, Inc., a $63 billion global technology and manufacturing innovator. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is ENERGY STAR 2022 certified® Partner of the Year – Sustained Excellence. The company’s commitment to environmental sustainability and its “Life’s Good” marketing theme encompasses how LG is dedicated to making people happy by exceeding expectations today and tomorrow. www.LG.com.

Media contacts:

LG Electronics

Linda Quach
+1 408 903 3045
[email protected]

madison miranda
+1 714 609 0828
[email protected]

SOURCE LG Electronics UNITED STATES


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